VELA Investment Management LLC Trims Position in Alamos Gold Inc. $AGI

Key Points

• VELA Investment Management LLC reduced its stake in Alamos Gold Inc. by 9.2%, retaining 152,430 shares worth approximately $4.05 million, which now accounts for 1.1% of its portfolio.
• Alamos Gold reported earnings per share of $0.34 for the last quarter, exceeding analyst expectations, with revenue rising 31.7% year-over-year to $438.2 million.
• The company also declared a quarterly dividend of $0.025 per share, representing an annualized yield of 0.3% and a dividend payout ratio of 12.05%.

VELA Investment Management LLC lessened its stake in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 9.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 152,430 shares of the basic materials company's stock after selling 15,477 shares during the period. Alamos Gold accounts for approximately 1.1% of VELA Investment Management LLC's portfolio, making the stock its 23rd biggest position. VELA Investment Management LLC's holdings in Alamos Gold were worth $4,049,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AGI. Ameritas Advisory Services LLC purchased a new position in shares of Alamos Gold during the 2nd quarter worth $30,000. Banque Transatlantique SA purchased a new position in shares of Alamos Gold during the 1st quarter worth $31,000. Sunbelt Securities Inc. purchased a new position in shares of Alamos Gold during the 1st quarter worth $41,000. SBI Securities Co. Ltd. raised its holdings in shares of Alamos Gold by 67.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,645 shares of the basic materials company's stock worth $44,000 after acquiring an additional 660 shares during the period. Finally, SVB Wealth LLC purchased a new position in shares of Alamos Gold during the 1st quarter worth $67,000. Hedge funds and other institutional investors own 64.33% of the company's stock.

Alamos Gold Stock Up 4.0%

Shares of NYSE:AGI opened at $37.46 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.49 and a quick ratio of 1.00. The firm has a market capitalization of $15.76 billion, a PE ratio of 45.13, a price-to-earnings-growth ratio of 0.70 and a beta of 0.50. The firm's 50-day moving average is $31.43 and its two-hundred day moving average is $28.23. Alamos Gold Inc. has a 1 year low of $17.42 and a 1 year high of $37.54.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last issued its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. The company had revenue of $438.20 million for the quarter, compared to analyst estimates of $400.61 million. Alamos Gold had a net margin of 22.99% and a return on equity of 10.67%. The business's revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 earnings per share. Analysts predict that Alamos Gold Inc. will post 1.29 EPS for the current year.

Alamos Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th were paid a dividend of $0.025 per share. The ex-dividend date was Thursday, September 11th. This represents a $0.10 dividend on an annualized basis and a yield of 0.3%. Alamos Gold's dividend payout ratio is 12.05%.

Analyst Ratings Changes

Several brokerages recently issued reports on AGI. BMO Capital Markets restated an "outperform" rating on shares of Alamos Gold in a report on Tuesday, September 16th. Weiss Ratings restated a "buy (b)" rating on shares of Alamos Gold in a report on Wednesday, October 8th. Stifel Canada upgraded shares of Alamos Gold to a "strong-buy" rating in a report on Tuesday, July 8th. National Bankshares restated an "outperform" rating on shares of Alamos Gold in a report on Tuesday, August 5th. Finally, CIBC restated an "outperform" rating on shares of Alamos Gold in a report on Tuesday, July 15th. Three investment analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $35.33.

About Alamos Gold

Alamos Gold Inc engages in the acquisition, exploration, development, and extraction of precious metals in Canada and Mexico. The company primarily explores for gold deposits. It holds 100% interest in the Young-Davidson mine and Island Gold mine located in the Ontario, Canada; Mulatos mine located in the Sonora, Mexico; and Lynn Lake project situated in the Manitoba, Canada.

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